Up one place in the innovation index
Each country is assessed against 78 factors. Norway ranks first among all countries in the 'infrastructure' category, which covers digital skills in the population, physical infrastructure and access to renewable energy. This is one reason why Norway has moved up the rankings. Compared with its 2024 ranking, Norway also performs better this year in 'market sophistication'. According to the survey, access to private venture capital has improved.
'It is good, but not good enough, that Norway ranks among the top 20 in the Global Innovation Index. Given our strong starting point and the pressing need to transform the Norwegian economy, we should address the areas where the survey shows we are falling behind and aim to move up the rankings,' says Håkon Haugli, our CEO.
Switzerland tops the ranking, followed by Sweden, the USA, South Korea and Singapore.
Positive trends
According to this index, there are three positive aspects of Norway's competitiveness:
1) Strong digital and physical infrastructure, and a high level of environmental sustainability thanks to the widespread use of renewable energy
2) Strong institutions, such as corruption-free courts and an efficient public administration, which provide a stable operating environment for businesses
3) A high proportion of women with a master's degree
Negative features
According to this index, three factors negatively affect Norway's competitiveness:
1) Access to private venture capital remains limited
2) Low proportion of students studying STEM subjects and few international students
3) Low levels of research activity in the business sector
Methodological weaknesses
Oil and gas are not considered high-tech exports in this ranking. Although oil and gas extraction requires advanced technology, the exported raw materials are classified as simple products.
Furthermore, it is difficult to find reliable and comparable data for many of the indicators. One example is access to venture capital, where valuations and other investment terms are not always disclosed.
Read about the survey on the UN World Intellectual Property Organization (WIPO) website